Identify a false statement: * a. Capital Gains Tax is a tax imposed on the gains realized by the seller from the sale, exchange, or other disposition of certain capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. b. Under NIRC, the capital gains tax on the O sale of domestic stocks sold directly to buyer is a final tax. c. Under NIRC, The capital gains tax on the sale of real property located in the Philippines and classified as capital asset is a final tax. d. None of the above e. All of the above
Identify a false statement: * a. Capital Gains Tax is a tax imposed on the gains realized by the seller from the sale, exchange, or other disposition of certain capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. b. Under NIRC, the capital gains tax on the O sale of domestic stocks sold directly to buyer is a final tax. c. Under NIRC, The capital gains tax on the sale of real property located in the Philippines and classified as capital asset is a final tax. d. None of the above e. All of the above
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 1MCQ: The definition of gross income in the tax law is: All items specifically listed as income in the tax...
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Transcribed Image Text:Identify a false statement:
a. Capital Gains Tax is a tax imposed on the
gains realized by the seller from the sale,
exchange, or other disposition of certain
capital assets located in the Philippines,
including pacto de retro sales and other
forms of conditional sale.
b. Under NIRC, the capital gains tax on the
sale of domestic stocks sold directly to
buyer is a final tax.
c. Under NIRC, The capital gains tax on the
sale of real property located in the
Philippines and classified as capital asset is
a final tax.
d. None of the above
e. All of the above
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